v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows Used in Operating Activities    
Net loss $ (35,603) $ (25,066)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 113 11
Amortization of intangible assets 622 27
Amortization of right-of-use asset 237
Non-cash interest expense, net of interest income 417 613
Stock-based compensation 4,121 1,645
Impairment of intangible assets 2,507
Loss on conversion of note receivable to equity investment 2,630
Unrealized loss on equity investment 628
Change in fair value of JV obligation 196
Change in fair value of convertible notes payable (12,882) 9,144
Loss on extinguishment of convertible notes payable 6,732 6,635
Change in fair value of warrant liability 281 164
Other 359 108
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (18) 26
Inventories 611
Prepaid expenses and other current assets 922 (84)
Other assets 40
Accounts payable 346 1,266
Related party payables 190
Accrued expenses and other current liabilities 6,039 345
Accrued interest 259 599
Deferred revenue (435)
Operating lease obligation (233)
Net Cash Used in Operating Activities (22,307) (4,181)
Cash Flows Provided by (Used in) Investing Activities    
Purchase of property and equipment (68) (3)
Cash received in purchase of Inpixon 2,968
Purchase of intangible asset (47) (14)
Net Cash Provided by (Used in) Investing Activities 2,853 (17)
Cash From Financing Activities    
Proceeds from sale of common stock and exercise of warrants 2 224
Net proceeds from ATM stock offerings 22,213
Net proceeds from issuance of promissory notes 2,000 125
Net proceeds from loan from Inpixon (prior to merger) 1,012 3,003
Net proceeds from issuance of convertible notes 750
Redemptions of Series 9 preferred stock (795)
Repayments of debt (868) (14)
Net Cash Provided by Financing Activities 23,564 4,088
Effect of Foreign Exchange Rate on Changes on Cash (10)
Net Increase (Decrease) in Cash and Cash Equivalents 4,100 (110)
Cash and Cash Equivalents - Beginning of year 5 115
Cash and Cash Equivalents - End of year 4,105 5
Supplemental Disclosure of cash flow information:    
Interest 61 17
Income Taxes 16
Non-cash investing and financing activities    
Common shares issued for conversion of debt and accrued interest 9,612
Common shares issued in exchange of warrants and cashless exercise of warrants and options 1,983
Deemed dividend related to December 2023 warrant exchange 283
Common shares issued as settlement of accrued compensation 4,398
Common shares issued as prepayment for services 335
Issuance of common stock for merger consideration, net of cash received 22,637
Right of use asset obtained in exchange for lease liability 394
Capital contribution - forgiveness of related party payable 380
Series 9 preferred stock dividend accrued 606
Deemed dividend related to Series 9 preferred stock exchange 490
Conversion of accrued interest to Series 9 preferred stock 602
Conversion of convertible note receivable to equity investment 968
ATM proceeds withheld as payment towards accounts payable 129
Warrants issued with convertible notes 967
Warrants issued with common stock 121
Reclassification of JV obligation to equity 5,583
Conversion of accrued interest to convertible note payable 807
Series 9 Preferred Stock    
Non-cash investing and financing activities    
Common shares issued in exchange of Series 9 preferred stock $ 490

Source

10-K PDF
XBRL